Retail Showroom with Open
For Sale
Contact for pricing
123 W Princeton Dr, Princeton, TX 75407
Showroom space with a flexible open floorplan designed for owner occupancy and easy multiuse buildout.
Property Size6,784 SF
Price / SF$345.67
Days on Market50
Property Features for 123 W Princeton Dr
General Information
Standard status
Active
Size
6,784 SF
Class
C
Property subtype
Retail, Office
Zoning
C2
Lease Type
NNN
Net Operating Income
$145,408
Additional Details
Highway Access
Yes
Building Details
Year Built
2005
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Compass Dallas
Listed By:
Chris DiGino · License #0564026
(940) 228-6221
Source:
Crexi
Added: Jul 27
Changed: Aug 20
Last Checked: Sep 13 at 6:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass Dallas
Investment Insights
Based on property information with market context.
This retail showroom offering is presented as an open-floorplan space currently used as a showroom and available for owner occupancy. The layout is flexible, supporting straightforward modification for multiuse use within a retail environment.
The property includes 6,784 SF total, with 3,786 SF of offering space, and is supported by its frontage on HWY 380. The current configuration can be adapted to a range of neighborhood-serving concepts such as medical, professional, neighborhood services, and child-related activities.
Built in 2005, the property’s showroom configuration and open floor plan can support a variety of retail and service formats where flexible interior space is valuable.
The property includes 6,784 SF total, with 3,786 SF of offering space, and is supported by its frontage on HWY 380. The current configuration can be adapted to a range of neighborhood-serving concepts such as medical, professional, neighborhood services, and child-related activities.
Built in 2005, the property’s showroom configuration and open floor plan can support a variety of retail and service formats where flexible interior space is valuable.
Key Highlights
- 3,786 SF showroom space with flexible open floorplan
- 6,784 SF total property size
- Available for owner occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$109,158
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,183,160
$2.2M
Cap Rate 7%
$1,559,400
$1.6M
Cap Rate 9%
$1,212,867
$1.2M
Market Conditions
NOI Build-Up for 6,784 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$163.6K $24.12/SF
− Vacancy
−$7.7K −$1.13/SF
EGI
$155.9K $22.99/SF
− OpEx
−$46.8K −$6.90/SF
NOI
$109.2K $16.09/SF
Area
Collin County, TX
Vacancy
4.70%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,183,160
Cap Rate 7%
$1,559,400
Cap Rate 9%
$1,212,867
Alternative Uses
Best Use
Retail
$1.56M
$1.36M – $1.82M
NOI $109,158 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$6.74M
$5.90M – $7.86M
NOI $471,870 @ 7.0% cap · market cap 20.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
134k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Shops & Services 22%
Electronics 3%
Beauty & Spa 1%
McDonald's
Dining
24,699 visits/mo
0.2 miles
Dollar Tree
Shops & Services
12,361 visits/mo
0.2 miles
Jack in the Box
Dining
11,935 visits/mo
0.2 miles
Allsups
Shops & Services
10,012 visits/mo
0.2 miles
Dutch Bros. Coffee
Dining
9,801 visits/mo
0.5 miles
Demographics for 75407, TX
25,738
Population
10,095
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
49.9 sq mi
ZIP Area
516
Density / Sq Mi
$92,076
Median Household Income
$48,912
Median Earnings
$1,867
Median Rent
$307,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Showroom space with a flexible open floorplan designed for owner occupancy and easy multiuse buildout.
Where is this retail space located?
The property is located at 123 W Princeton Dr Princeton, TX.
What is the asking price?
The asking price for this property is $2,345,000.
What are key features of this property?
This property features: 3,786 SF showroom space with flexible open floorplan; 6,784 SF total property size; Available for owner occupancy
